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Summer brings with it a host of activities here in the Treasure Valley. With the 4th of July in front of us, many cities have planned activities in celebration of Independence Day. Check them out below. Free summer outdoor concerts are back in full force. Enjoy some music, maybe dance a little (or a lot), and enjoy some food and drink. And, Christmas in July? Why not enjoy the summer weather, while supporting our local crafters and small businesses. It's never a bad time to shop, right?
Interest rates are all the buzz... Take a look at historical rates over almost 50-years and some of the highs and lows. And, you've heard it before, the median home sales price in Ada county has once again reached a record high.
Have a safe 4th of July holiday!
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Key Market Takeaways for Ada County...
- The median sales price for homes in Ada County reached $602,250 in May 2022, an increase of 16.1% compared to the same month last year, and a new record for the county.
- Similar to March and April, higher prices in the new construction segment contributed to the overall price jump. New home sales made up 28.2% of all sales in May with a median sales price of $639,105, up 17.5% from last year. Home prices also rose to a new record in the existing segment with a median sales price of $586,750, a gain of 16.0% over last year.
- There were 894 closed home sales in May 2022, a decrease of 5.8% compared to May 2021, and the third month of consecutive year-over-year declines.
- Existing homes that closed last month spent an average of 11 days on the market, compared to eight days in May 2021. Additionally, 50.7% of buyers paid over list price, resulting in an average original list price received of 100.9% for existing/resale homes in May 2022, compared to 105.0% in May 2021.
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Mortgage Rates
Looking Back at History
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Lately, it's hard to escape the current barrage of discussions regarding interest rates. Whether it's social media, news reports or watercooler talk, interest rates are a hot topic.
But, at a high level, what have past mortgage rates looked like over almost 50-years? Here's a bit of trivia and a look back historically on average rates over the past since April 1971 for a 30-year fixed mortgage.
- For the week of October 9, 1981 mortgage rates averaged 18.63 percent - the highest weekly rate on record.
- Post 2008, mortgage rates declined steadily.
- Until recently, 2016 held the lowest annual mortgage rate on record going back to 1971. A typical mortgage was 3.65%.
- The average mortgage rate went from 4.54% in 2018 to 3.94% in 2019, despite many economist predicting they would top 5.5%.
- By July 2020, the 30-year fixed rate fell below 3% for the first time. And, it kept falling to a new record low of just 2.65% in January 2021.
- Between March 3, 2022 and June 16, 2022 the average 30-year rate jumped from 3.76% to 5.78% — an increase of over 200 basis points (2.00%) in just three months.
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This 4th of July there is something for everyone, with celebrations throughout the valley. |
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Boise
As is tradition, a beautiful fireworks display will launch from Ann Morrison Park on the 4th of July. The fireworks are scheduled to begin at 10:15 p.m. (dusk) on Independence Day, but festivities in Ann Morrison Park will begin at 6 p.m. Food and drink vendors will be on site.
Ann Morrison Park will be closed to vehicles all day on the Fourth of July, but people who plan to watch the fireworks are still welcome to walk or ride a bike into the park throughout the day. Outside food and drinks are also permitted in the park, but please remember no glass bottles or containers are allowed, and alcoholic beverages are not allowed within 250 feet of the Boise River Greenbelt. Please leave drones, pets, and fireworks/sparklers at home.
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Meridian
Celebrate Independence Day at Storey Park. The park will be open for picnics and fireworks viewing. Food trucks will be onsite at 4:00 pm for snacks and tasty local cuisine.
The Meridian Speedway will once again be partnering with the City of Meridian in putting on this celebration. The fireworks display will be set-off from the back (east side) of the Speedway at dusk, at approximately 10:20 pm.
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Middleton
There's a full day of festivities in Middleton this 4th of July. It starts with the annual Firefighters breakfast, and concludes with a fireworks show at dusk.
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Caldwell
This year's parade and celebration will be on Monday, July 4th in Memorial Park. Please note that the 4th of July Parade Route has changed from previous years and there's a new 5K & 1K Fun Run. The fireworks show will be that evening at Brothers Park.
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Star
Experience a full day of fun, celebrating the 4th of July in Caldwell. Events include: a Firecracker Fun Run, Old Fashioned Pie Contest, Celebration Parade, Grand Old Flag Luncheon, All American Pie Auction, Yankee Doodle Kid's Zone, Raffle, Spirit of Red, White & Blue Concert, Mayor's Address, and Freedom Fireworks Show.
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It's not summer without FREE music throughout the Treasure Valley. Tuesday through Saturday, there's an event out there for you!
Visit their websites to learn more.
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TUESDAYS ON THE CREEK
Indian Creek Plaza
120 S. Kimball Ave., Caldwell
Tuesdays thru September 27
6:00 PM - 9:00 PM
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JUMP JAM & JIVE
JUMP
1000 W. Myrtle St., Boise
Every-other Tuesday
(check website)
6:00 - 8:00 PM thru September 13.
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Alive After Five
The Grove Plaza
Downtown Boise
Wednesday's thru August 10 ~ 5:00 PM
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THURSDAY THUNDER
Boise Spectrum Center
7609 W. Overland, Boise
Thursdays 6:00 PM
June 23 - September 1
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BIG AL’S
LIVE ON THE PATIO
Big Al's - The Village
1900 N. Eagle Road, Meridian
Fridays and Saturdays
thru August 27
7:00 PM - 10:00 PM
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MCCLEARY’S
Outdoor stage at McCleary’s Pub
9155 W. State St., Boise
Saturdays thru September 17. 8:00 PM - 11:00 PM
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Christmas in July?
You read that correctly... Don't miss this family friendly vendor and craft fair event. Get a head start on your holiday shopping with handcrafted items and merchandise provided by our local crafters and small businesses!
Grab lunch and visit Santa from 11am - 1pm!
Food Trucks, Kid Friendly Activities, Playgrounds, Splash Pad, Vendors and More!
Saturday, July 9 ~ 10:00 AM - 3:00 PM
Kleiner Memorial Park | 1900 N Record Ave, Meridian.
The event will be located right next to the main parking lot and playgrounds.
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April 2022 Circle of Giving...
We at Homes for Heroes, Treasure Valley are so proud to be part of this Circle of Giving and give back to those in our community who give so much.
In April 2022, Nationally, Homes for Heroes...
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gave back $1,520,466 in Hero Rewards.
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connected 6,508 People with Homes for Heroes affiliated real estate professionals.
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helped 617 Heroes save money when buying, selling or refinancing a home.
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enriched 443 Communities with Hero related real estate transactions.
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awarded $25,000 in grant money - to the Hennepin Healthcare Foundation for Transitional Healing Center.
Join the circle by sharing this email and GIVING your HERO friends and family the gift of BIG SAVINGS on the sale or purchase of a home.
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Julie Cendejas | Cendejas Group Real Estate, Keller Williams Realty Boise
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